Hurricane Season Wrap up - What we know

October 23, 2018

Up north, with the early season cold weather, hurricane season is coming to a close. Florence and Michael were 2 more devastating weather events that thankfully did not land in the tristate area. So what do we really know? What have we learned about hurricanes?

I recently read “Inevitable Disaster” by Roy Spenser, PhD, a revealing examination of the statistics on hurricanes, from the book these points are clear:

First:

Statistically, hurricanes are not more frequent, global warming has not had an effect

The severity of the wind has not increased

The hurricane drought from 2005 to 2017 has made us complacent

But we are vulnerable because:

Coastal development has skyrocketed

Population along the shorelines has exploded

The point of impact is still random

There are more than 6m people living in the Miami/Fort Lauderdale alone. A direct hit of a Cat 5 storm to Miami is estimated to be a $1 trillion damage result.

And:

Global warming does increase the amount of moisture in the air

Water surge driven by the wind, and then the heavy rains that come with a hurricane are more damaging than the wind itself

Property insurance rates are on the rise

So as a result:

Storm preparation is the key to managing the effects

Review of your insurance with a focus on weather is important

Rethinking even if you are not in a flood zone whether flood insurance is now a good choice

Whether heavy rains, or hurricane force winds, advance work will keep weather damage down to an inconvenience instead of a potential disaster.

Author: Kyle Shepard

Kyle’s extensive sales and account management expertise transcends both Commercial and Personal Lines. Coupling that with his finance and life insurance licenses, Kyle serves as full service insurance agent for all of his valued clients. The goal for Kyle is to provide tailored risk management to address his client’s current and future exposures, and to optimize wealth preservation.